Upon hearing the presentation at NH Krystal in Cancun, I was immediately leary of all the grandiose promises made to us, particularly the return on our investment through rental income. We were even provided with a fax from a real estate agent in the US stating there is a high demand for weeks at Krystal. With not having access to the internet to do any research, I decided to peruse the contract for a cancellation clause, which sure enough was no. 17 which stated we could cancel within 5 business days of the signing of the contract. Having this guarantee, gave me enough peace of mind to sign the contract and put a 50% downpayment on my American Express card. I also noticed a clause stating that you're not entering the contract as an investment opportunity.
5 minutes of research was enough for me to realize we should cancel the contract. On Jan 29th, we hand delivered the cancellation notice and followed it up with faxes and e-mail. Our notification was ignored, so when my bill from American Express came I disputed the charge and provided them with all the details. American Express sided with me and contacted Krystal requesting supporting documentation, which was never provided so after 30 days my card was credited the full amount of the downpayment.
In April we began receiving notices requesting monthly payments. After receiving the first notice I replied in writing to GBS International Inc, 5600 S.W. 135th Avenue, Suite 210, Miami FL, stating we had cancelled the contract and included a copy of the cancellation notice. Two days ago we received a letter demanding 3 payments or it will be sent to a collections agency. I have replied with an e-mail to l. [email protected] asking that they stop sending notices and threatening legal action if they persist.
Greg
Toronto, Ontario
Canada
0 comments